PEN AIR FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.penair.org for more information.
Sep, 30, 2025 — PEN AIR FEDERAL CREDIT UNION is a federal credit union headquartered in Pensacola, FL with 11 branch locations and about $2.34 billion in total assets. Opened 90 years ago in 1936, PEN AIR FEDERAL CREDIT UNION has about 119,376 members and employs 324 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PEN AIR FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1495 E Nine Mile Rd Pensacola, FL 32514-5723 |
| Phone: | (850) 505-3200 |
| Fax: | (850) 317-8389 |
| Website: | https://www.penair.org |
| Branches: | 11 branch locations |
| Members: | 119,376 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1303 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,338,716,056 |
| CEO/Manager: | Delbert L Morgan |
| Chairperson: | Robert Jacobson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 273,599,074 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,084,150 |
| Real Estate Loans | 322,035,313 |
| Unsecured Loans | 100,194,121 |
| Other Loans | 714,383,375 |
| TOTAL LOANS | 1,139,608,167 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,018,417 |
| Land And Building | 57,134,000 |
| Other Fixed Assets | 8,438,493 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 18,775,464 |
| All Other Assets | 1,515,809 |
| TOTAL ASSETS | 2,338,716,056 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 556 |
| Notes & Interest Payable | 40,059,493 |
| Accounts Payable & Other Liabilities | 21,990,078 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 349,103,945 |
| Regular shares | 1,016,320,847 |
| All Other Shares & Deposits | 715,313,542 |
| TOTAL SHARES & DEPOSITS | 2,080,738,334 |
| TOTAL LIABILITIES | 2,142,788,461 |
| Regular Reserve | 0 |
| Other Reserves | -58,227,681 |
| Undivided Earnings | 254,155,276 |
| TOTAL EQUITY | 195,927,595 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,338,716,056 |
| INCOME & EXPENSE | |
| Loan Income | 14,342,321 |
| Investment Income | 2,828,400 |
| Other Income | 3,001,876 |
| Total Employee Compensation & Benefits | 6,550,949 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 7,306,739 |
| Non-operating Income & (Expense) | 59,492 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 693,425 |
| Cost of Funds | 2,740,174 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,132,501 |
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